SEPTEMBER 2017 – BUILDING PERMITS UPDATE
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Permit activity increased significantly in all three of the GTA’s ICI sectors in Q2, compared to last year’s second quarter. In total, ICI permit values in the region increased by over a billion dollars, or 81%. Half of this permit value came from commercial permits, which were up by 71%. Commercial permit values in the GTA have for the first time, exceeded $1 billion in four consecutive quarters. The GTA’s Institutional permit values rose by 70% in the second quarter to a 2-year high. The most positive news may be in the industrial sector, where permit values increased by 162% year-over-year, to a 7-year high. Industrial permit values were very low in the previous two quarters, and in the 2016 calendar year, industrial permits were at their lowest since the recession. As always, it should be noted that municipal permit values don’t capture all industrial construction activity.
The GTA Region includes: City of Toronto, City of Oakville, Durham Region, Peel Region, and York Region
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FOR MORE INFORMATION, CONTACT:
Ian Worte
Research Analyst,
ianw@iciconstruction.com
Ontario Construction Secretariat (OCS)
180 Attwell Drive, Suite 360, Toronto, ON M9W 6A9
P 416.620.5210 ext. 241
F 416.620.5310